Journalist Jackson Wong (Wong Jackson) in his post on Medium has warned users of the cryptocurrency exchange KuCoin about the possible risk of fraud. According to the journalist, the office of the company in Hong Kong is empty.
“ATTENTION: Office KuCoin in Hong Kong empty. Use extreme caution, making your funds on the platform” — is a warning to readers Wong in his publication.
The journalist has long expressed concern regarding the operation of the crypto currency exchange KuCoin. He suggests that the marketplace finds the illiquidity of the assets immediately after the next austerity measures to be taken by the Chinese government. According to Wong, the exchange now operates only because successfully escaped previous inspections. The journalist claims that he never heard of KuCoin from members of the crypto community and have not seen information about it in the local media, and believes that the Commission on securities and futures (SFC) has long stopped trading on that exchange, if she really was in Hong Kong. In addition, the suspicion Wong is the fact that none of the leaders KuCoin not resident in Hong Kong.
However, all these accusations have not been backed up, so the journalist decided to visit the office of the exchange at the registered office. However, in the publication of the company name KuCoin was not, but revealed the company’s “Smart Team International Consultants”. Wong said that they knew about the relationship of this company with KuCoin, so I tried to find the representative of the exchange there. It turned out that the above-named company has long moved out of the office, and about KuCoin in the building never heard.
“I suspect that KuCoin work either from the Sichuan province in China, or remotely from home in Hong Kong. But it is wrong, right? Largest market that works from home…,” added Wong.
The journalist rejects the theory that the trading platform might have an office elsewhere in Hong Kong, as its leaders have no local registration and registration, as mentioned above.
Customers KuCoin may be victims of fraud if the market temporarily prohibit the withdrawal of funds or dramatically stop working. It’s easier to do when the company does not have proven office. In this scenario, public services, hardly able to help users to recover their funds because to find those from whom they can recover will be incredibly difficult: the staff of the exchange may be anywhere in the world.
At the end of the publication Wong urges people to avoid cooperation with KuCoin as long as the company will not conduct Affairs more openly. While the crypto currency exchange has not given an official response to the accusations of the journalist.
Recall that the other Chinese cryptocurrency exchange OKCoin has recently also been found in the center of the scandal. The investor sued her in court, accused of refusing to withdraw its 38,748 token Bitcoin Cash (BCH) after fork network.
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